Recording a Change in Estimate, an Error Correction, and a Change in Accounting Principle On December 31, Year 4, Alexa Company is preparing adjusting entries for its annual year-end. The following issues confront the company. useful life is 6 years instead of 10 . recorded on this equipment for Year 1 or Year 2, but it was recorded for Year 3. a. For equipment \#101, provide the required adjusting entry for depreciation expense at December 31, Year 4. - Note: Round answers to the nearest whole dollar. b. For equipment \#502, provide the required adjusting entry for depreciation expense at December 31, Year 4. c. For equipment \#502, provide any necessary correcting entry. Ignore income taxes. d. In reporting comparative income statements in Year 4, what net income amount is presented for Year 3